According to Stratistics MRC, the Global Industrial Rubber Market is expected to reach $168.3 billion by 2022. Increasing automotive industry and increased demand for high-performance tires are the factors driving the growth of global industrial rubber market. Environmental issues, rising threat from the substitutes and Volatility of the oil prices are the factors hindering the market. Mechanical goods are expected to account for the largest share.

Provider of belts and hose will gain profit from increased customer demand of the durable goods, mainly machinery and equipment. Construction market is estimated to be the strongest gain during the forecast period.

North America dominated the global industrial rubber market in terms of market revenue followed by Europe. Asia Pacific is the major producer and consumer of industrial rubber, with its tire sector witnessing promising growth rate. Manufacturers have shifted their manufacturing facilities to emerging economies, due to the low labor and operating costs.

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